MultiPlan Corp (Form: 8-K, Received: 08/06/2021 06:10:19)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

August 3, 2021

MultiPlan Corporation

(Exact name of registrant as specified in its charter)

Delaware

001-39228

84-3536151

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

115 Fifth Avenue

New York, New York 10003

(212) 780-2000

(Address, including zip code, and telephone number,

including area code, of registrant’s principal executive offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading
Symbol(s)

Name of each exchange on which registered

Shares of Class A Common Stock,

$0.0001 par value per share

MPLN

New York Stock Exchange

Warrants

MPLN.W

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Unless the context otherwise requires, “we,” “us,” “our,” “MultiPlan” and the “Company” refer to MultiPlan Corporation, a Delaware corporation, and its consolidated subsidiaries.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Leadership Transitions

On August 3, 2021, the board of directors (the “Board”) of MultiPlan Corporation (the “Company”) appointed Dale A. White, 65, to be the Company’s President and Chief Operating Officer effective immediately. Mr. White has served as the Company’s President, Payor Markets since October 2020, when Polaris Parent Corp. (“MultiPlan Parent”) merged with and into one of the Company’s subsidiaries to become a wholly owned subsidiary of the Company. Prior to assuming such role, he served as the Executive Vice President and Chief Revenue Officer for MultiPlan Parent from January 2018 to October 2020. Mr. White had previously served as MultiPlan Parent’s Executive Vice President, Sales and Account Management from 2004. Information about Mr. White’s compensation arrangements may be found in the section entitled “Executive Compensation” in the Company’s Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission (the “SEC”) on April 15, 2021 (the “Proxy Statement”).

The Board also announced that it plans to appoint Mr. White as Chief Executive Officer of the Company in early 2022. Mr. Mark H. Tabak, the Company’s current Chief Executive Officer and Chairperson of the Board, is expected to continue to serve as Chief Executive Officer until Mr. White’s accession and to work closely with Mr. White to ensure a smooth transition. Mr. Tabak is expected to remain the Chairperson of the Board following Mr. White’s promotion. The Board has not determined to make any changes to Mr. White’s previously disclosed compensation arrangements at this time.

On August 4, 2021, Mr. David L. Redmond, the Company’s Executive Vice President and Chief Financial Officer, informed the Board of his intention to retire as of December 31, 2021. The Board has not yet selected a successor to Mr. Redmond.

Compensation Arrangements with Executive Officers

Employment Agreements

On August 4, 2021, MultiPlan, Inc., a wholly owned subsidiary of the Company (“MPI”), entered into side letters with each of Mr. Tabak and Mr. Redmond, in each case, amending the Amended and Restated Employment Agreement by and between Mr. Tabak, MPI and Polaris Investment Holdings, L.P. (“Holdings”), dated as of May 5, 2016 (the “Tabak Side Letter”) and the Amended and Restated Employment Agreement by and between Mr. Redmond, MPI and Holdings, dated as of May 5, 2016 (the “Redmond Side Letter” and, together with the Tabak Side Letter, the “Side Letters”). The principal terms of such Side Letters are summarized below.

The Tabak Side Letter modifies amounts payable upon a qualifying termination under Mr. Tabak’s employment agreement to be equal to $4,017,666 (plus any COBRA continuation costs which shall be paid directly or, if such payments are discontinued, the cash equivalent shall be payable to executive in a lump sum), with $2,000,000 of such amounts payable in the form of fully-vested common stock of the Company and the remaining portion payable in cash. If such qualifying termination occurs prior to January 31, 2022, Mr. Tabak will receive his current base salary through January 31, 2022. In addition to any termination without cause or with good reason, the Tabak Side Letter provides that any resignation by Mr. Tabak on or following January 31, 2022, will also be treated as a qualifying termination. Further, following a qualifying termination by MPI on or after January 1, 2022, or by Mr. Tabak on or after January 31, 2022, Mr. Tabak will be appointed as Non-Executive Chairman and, commencing January 31, 2022 or the date of his termination of employment, if later, Mr. Tabak’s sole compensation for services as Non-Executive Chairman shall be an annual fee of $500,000, pro-rated for any partial year.

The Redmond Side Letter modifies amounts payable upon a qualifying termination under Mr. Redmond’s employment agreement to be equal to $2,338,130 (plus any COBRA continuation costs which shall be paid directly or, if such payments are discontinued, the cash equivalent shall be payable to executive in a lump sum). In addition,

if a qualifying termination occurs prior to December 31, 2021, Mr. Redmond shall be paid an amount equal to his current base salary through December 31, 2021. The Redmond Side Letter further provides that to the extent Mr. Redmond’s employment has not been terminated prior to December 31, 2021, his employment will be terminated on December 31, 2021, such termination shall constitute a qualifying termination and the applicable severance amounts shall be paid on or prior to December 31, 2021.

The Side Letters also provide that, prior to the end of calendar year 2021, the compensation committee will take action to estimate the achievement of the performance metrics under MPI’s annual bonus plan and pay 90% of such estimated bonus on or prior to December 31, 2021. The remaining portion, if any, will be paid in the ordinary course. Each executive shall be entitled to the full annual bonus if he remains employed through and including December 31, 2021, or has undergone a qualifying termination.

Equity Modification

On June 23, 2021, the Company granted time-vesting restricted stock units to each of Mr. Redmond (the “Redmond RSUs”) and Mr. Tabak (the “Tabak RSUs”) under the Company’s 2020 Omnibus Incentive Plan (the “Plan”).

On August 4, 2021, the Company modified the vesting terms of the Redmond RSUs and Tabak RSUs (the “Modification”).

Following the Modification, the Tabak RSUs will vest, subject to continued employment (or service as a director), in eighteen (18) substantially equal monthly installments, with the first installment vesting on the date of amendment, and thereafter, beginning on August 31, 2021 and on the last day of each of the next sixteen (16) months thereafter. Consistent with the agreement prior to the Modification, the Tabak RSUs will vest in full upon a “change in control” (as defined in the Plan). In addition, following a termination (i) by the Company without “cause” (or for any reason other than for cause, the Company terminates Mr. Tabak as a director or Non-Executive Chairman), (ii) by Mr. Tabak for “good reason” prior to January 31, 2022 or (iii) due to Mr. Tabak’s death or “disability” (all such terms as defined in the award agreement), then in all cases, the Tabak RSUs shall vest in full. For purposes of the Tabak RSUs, a termination of Mr. Tabak’s employment in which he continues as a director or Non-Executive Chairman shall not constitute a “termination” under the award agreement.

Following the Modification, the Redmond RSUs will vest, subject to continued employment, in six (6) substantially equal monthly installments, with the first installment vesting on the date of amendment, and thereafter, beginning on August 31, 2021 and on the last day of each of the next four (4) months thereafter. Consistent with the agreement prior to the Modification, the Redmond RSUs will also vest in full upon a “change in control” (as defined in the Plan) or a termination by the Company without “cause”, a resignation by Mr. Redmond for “good reason” or as a result of Mr. Redmond’s death or “disability” (all as defined in the award agreement).

The foregoing descriptions of the Tabak Side Letter and the Redmond Side Letter do not purport to be complete and are subject to, and qualified in their entirety by, the full text of the Side Letters, copies of which are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and are incorporated into this Item 5.02 by reference.

Item 8.01 Other Events.

On August 5, 2021, the Company issued a press release announcing the changes in Company leadership described above under “—Leadership Transitions.” A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K (this “Report”) and is incorporated into this Item 8.01 by reference.

Forward-Looking Statements

This Report includes statements that express management’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events and therefore are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “seeks,” “projects,” “forecasts,” “intends,” “plans,” “may,” “will” or “should” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts, including the

discussion of the Company’s succession plans. The forward-looking statements contained in this Report are based on current expectations and beliefs concerning future developments and there can be no assurance that future developments will occur as anticipated by the Company. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, changes in management’s and the Board’s intentions and those factors described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by the Company. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date made. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are included in this Form 8-K:



			10.1			Side Letter between Mark H. Tabak and MultiPlan, Inc., effective August 4, 2021, amending the Amended and Restated Employment Agreement by and between Mr. Tabak, MultiPlan, Inc. and Polaris Investment Holdings, L.P.
			10.2			Side Letter between David L. Redmond and MultiPlan, Inc., effective August 4, 2021, amending the Amended and Restated Employment Agreement by and between Mr. Redmond, MultiPlan, Inc. and Polaris Investment Holdings, L.P.
			99.1			Press Release, dated August 5, 2021.
			104			Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document).

EXHIBIT INDEX



Exhibit
Number						Description

10.1						Side Letter between Mark H. Tabak and MultiPlan, Inc., effective August 4, 2021, amending the Amended and Restated Employment Agreement by and between Mr. Tabak, MultiPlan, Inc. and Polaris Investment Holdings, L.P.
10.2						Side Letter between David L. Redmond and MultiPlan, Inc., effective August 4, 2021, amending the Amended and Restated Employment Agreement by and between Mr. Redmond, MultiPlan, Inc. and Polaris Investment Holdings, L.P.
99.1						Press Release, dated August 5, 2021.
104						Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 6, 2021

MultiPlan Corporation

By: /s/ David L. Redmond

Name: David L. Redmond

Title: Executive Vice President and Chief Financial

Officer

EXHIBIT 10.1

Execution Version

[MULTIPLAN, INC. LETTERHEAD]

August 4, 2021

Mark H. Tabak

[ADDRESS]

Dear Mark:

Reference is made to that certain Amended and Restated Employment Agreement by and between you (the “Executive”), MultiPlan, Inc., a New York corporation (together with any successor thereto, the “Company”), Polaris Investment Holdings, L.P., a Delaware limited partnership (“Holdings”), dated as of May 5, 2016 (the “Employment Agreement”). Terms not otherwise defined in this letter agreement shall have the meanings ascribed to such terms in the Employment Agreement. As discussed, the purpose of this letter is to confirm our agreement of the following amendments to the terms and conditions set forth in the Employment Agreement effective as of the date first above written:

•“Good Reason” under the Employment Agreement will be limited to: (i) the Company’s failure to make any material payment due under the Employment Agreement that remains uncured for more than five (5) business days following receipt of written notice from the Executive thereof, and (ii) those events described in Sections 10(g)(ii), 10(g)(iii), 10(g)(iv) and 10(g)(v)(solely with respect to any breach of Section 2(h)) of the Employment Agreement.

•For purposes of Section 4(b) of the Employment Agreement:

◦ The parties agree that the aggregate amount payable under Sections 4(b)(i) and (iii) shall equal $4,017,666 (together with the additional amounts described in Section 4(b)(ii), the “Severance Amounts”), with $2,000,000 of the Severance Amounts payable in installments at the time severance amounts are otherwise payable under Section 4(b)(i) (provided such installments shall be accelerated to the full extent consistent with Section 409A of the Code and Section 21 of the Employment Agreement) in the form of fully vested common stock of MultiPlan Corporation, with the number of shares based on the volume weighted average trading price of the common stock of MultiPlan Corporation over the preceding 30 consecutive trading days and the remaining portion of the Severance Amounts paid in cash at the time such amounts are otherwise payable.

◦The parties agree that pursuant to Section 4(b)(ii), (x) the Company will pay the COBRA premium costs directly and (y) in the event the Company has to discontinue such payments pursuant to the last sentence of Section 4(b)(ii) the Company shall pay to Executive the cash equivalent of such remaining COBRA premium costs, payable in a lump sum as soon as reasonably practicable following such discontinuation.

◦With respect to any such termination under Section 4(b) of the Employment Agreement occurring prior to January 31, 2022, in addition to the Severance Amounts, the Executive shall be paid an amount equal to his then current Base Salary, payable in the ordinary course through January 31, 2022.

◦In addition to the events described in Section 4(b)(and notwithstanding the notice timing provisions of Section 3(b)) of the Employment Agreement, the Executive will also be entitled to the Severance Amounts upon any resignation without Good Reason on or following January 31, 2022.

◦Notwithstanding the timing of the payments described in Section 4(b), upon the death or disability (within the meaning of Treas. Reg. 1.409A-3(i)(4)) of the Executive following any applicable termination of employment, the Severance Amounts shall become immediately payable as of the date of such death or disability.

•Immediately following any termination under Section 4(b) of the Employment Agreement by the Company on or after January 1, 2022, or by the Executive on or after January 31, 2022, and as a result of which the Executive is no longer continuing as an employee, MultiPlan Corporation will appoint the Executive as Non-Executive Chairman, with the time commitment associated with such role being limited to not more than 20% of the average level of services provided by the Executive under the Employment Agreement during the preceding 36-month period. Commencing January 31, 2022 or the date of such termination of employment, if later, the Executive’s sole compensation for services rendered as Non-Executive Chairman shall be an annual fee of $500,000 payable quarterly in arrears, pro-rated for any partial year.

•Prior to the end of calendar year 2021, the compensation committee of the Board will take action to (i) make a good faith estimate of the achievement of the 2021 EBITDA and Revenue performance metrics as reflected in the financial presentation to the Board in May 2021 and incorporated under the Company’s annual bonus plan, (ii) determine the Executive’s 2021 annual bonus based on the determination made in clause (i) (the “2021 Estimated Bonus”) and (iii) pay 90% of the 2021 Estimated Bonus on or prior to December 31, 2021 (reduced by any portion of the Annual Bonus previously paid for 2021), with the delta between the amount of the 2021 Estimated Bonus paid and the actual 2021 annual bonus amount due, to be paid in the ordinary course (the 2021 Estimated Bonus and actual 2021 annual bonus, the “2021 Bonus”). To the extent the delta is negative, the Company shall be permitted to net such deficit against any other amounts due to the Executive. The 2021 Bonus (without pro-ration) shall be paid to the Executive if he remains employed through and including December 31, 2021 or has been subject to a termination covered by Section 4(b) of the Employment Agreement (and such payment shall be in addition to the Severance Amounts).

•Sections 11, 13, 15, 17, 20 and 21 (Governing Law; Counterparts; Amendments; Waivers; Arbitration; Employee Acknowledgment; Section 409A) are incorporated herein. Except as set forth herein, the terms of the Employment Agreement shall remain unchanged.

To confirm your agreement with the above terms, please sign where indicated below and return the executed copy to the Company.

Sincerely,

MultiPlan, Inc.

/s/ JEFFREY DOCTOROFF
By: Jeffrey Doctoroff
Title: SVP and GC

Agreed and Accepted:

/s/ MARK H. TABAK
Mark H. Tabak

[Signature Page to Side Letter to Amended and Restated Employment Agreement]

EXHIBIT 10.2

Execution Version

[MULTIPLAN, INC. LETTERHEAD]

August 4, 2021

David L. Redmond

[ADDRESS]

Dear David:

•For purposes of Section 4(b) of the Employment Agreement:

◦The parties agree that the aggregate amount payable under Section 4(b)(i) shall equal $2,338,130 (together with the additional amounts described in Section 4(b)(ii), the “Severance Amounts”).

◦With respect to any such termination under Section 4(b) of the Employment Agreement occurring prior to December 31, 2021, in addition to the Severance Amounts, the Executive shall be paid an amount equal to his then current Base Salary, payable in the ordinary course through December 31, 2021.

•To the extent that the Executive’s employment has not otherwise been terminated prior to December 31, 2021, upon the close of business on December 31, the Executive’s employment will be terminated, such termination shall constitute a termination under

Section 4(b) of the Employment Agreement and the Severance Amounts shall be paid on or prior to December 31 2021.

•Prior to the end of calendar year 2021, the compensation committee of the Board will take action to (i) make a good faith estimate of the achievement of the 2021 EBITDA and Revenue performance metrics as reflected in the financial presentation to the Board in May 2021 and incorporated into the Company’s annual bonus plan, (ii) determine the Executive’s 2021 annual bonus based on the determination made in clause (i) (the “2021 Estimated Bonus”) and (iii) pay 90% of the 2021 Estimated Bonus on or prior to December 31, 2021 (reduced by any portion of the Annual Bonus previously paid for 2021), with the delta between the amount of the 2021 Estimated Bonus paid and the actual 2021 annual bonus amount due, to be paid in the ordinary course (the 2021 Estimated Bonus and actual 2021 annual bonus, the “2021 Bonus”). To the extent the delta is negative, the Company shall be permitted to net such deficit against any other amounts due to the Executive. The 2021 Bonus (without pro-ration) shall be paid to the Executive if he remains employed through and including December 31, 2021 or has been subject to a termination covered by Section 4(b) of the Employment Agreement (and such payment shall be in addition to the Severance Amounts).

To confirm your agreement with the above terms, please sign where indicated below and return the executed copy to the Company.

Sincerely,

MultiPlan, Inc.

/s/ JEFFREY DOCTOROFF
By: Jeffrey Doctoroff
Title: SVP and GC

Agreed and Accepted:

/s/ DAVID L. REDMOND
David L. Redmond

[Signature Page to Side Letter to Amended and Restated Employment Agreement]

EXHIBIT 99.1

MultiPlan Announces Executive Leadership Transitions

NEW YORK, NY (August 5, 2021) – MultiPlan Corporation (NYSE:MPLN) (“MultiPlan” or the “Company”), a leading value-added provider of data analytics and technology-enabled end-to-end cost management solutions to the U.S. healthcare industry, today announced that long-time MultiPlan executive Dale White, currently President of Payor Markets, has been promoted to President and Chief Operating Officer.

“I am pleased to announce Dale White’s promotion to COO,” said CEO Mark Tabak. “As demonstrated by our strong Q2 2021 results and by our decision to raise guidance for FY 2021, MultiPlan’s business momentum has continued. Dale has been a driving force of that momentum and of the Company’s growth, through his exceptional leadership and relentless commitment to serving our customers.”

Mr. White’s promotion to President and COO is part of an orderly succession by which the Board of Directors plans to promote him to Chief Executive Officer in early 2022. Mr. Tabak continued, “Dale has been groomed for several years to lead MultiPlan. Since he joined the Company in 2004, Dale has ascended to increasingly expansive leadership roles that cut across every facet of MultiPlan’s business. His promotion to President and COO is a natural progression that reflects his outstanding track record of execution, his expansive knowledge of our business, his deep relationships with our customers, and the high esteem he has earned among MultiPlan’s 2,200 colleagues.”

Upon Mr. White’s elevation to CEO in early 2022, Mr. Tabak will remain actively engaged in the Company as Chairman of the Board, driving strategy, organic growth and M&A initiatives for the Company. “I will be working closely with Dale in the coming months to ensure a smooth transition, and as MultiPlan’s Chairman, I will continue to be involved in steering the strategy and growth of the Company,” said Mr. Tabak. “Our long-time focus on leadership development and expansion of our management team means MultiPlan is well positioned to continue its momentum."

Mr. White added, “Stability, continuity and expansion of leadership has long been a priority for MultiPlan. That has continued over the last year, as we have supplemented our management talent to meet our expanding needs as a public company, with hires to enhance oversight of accounting, financial controls and investor relations. We have also added senior talent in product development and sales leadership to boost our go-to-market-strategy and execution. And as recently announced, we have hired a new Chief Information Security Officer to manage the increasing risks of operating in a digital world. I am honored to lead such a talented group of senior leaders and colleagues.”

MultiPlan further announced that David Redmond, Executive Vice President and Chief Financial Officer, is planning to retire at the end of the year, after more than a decade in the post. The Company is actively conducting a nationwide search for a new CFO and is confident in its ability to execute on its succession plan, with Mr. Redmond’s assistance in the transition and given the aforementioned additions and enhancements to the Company’s finance staff and function.

Forward-Looking Statements

This press release includes statements that express our and our subsidiaries’ opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can generally be identified by the use of

forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “seeks,” “projects,” “forecasts,” “intends,” “plans,” “may,” “will” or “should” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this press release, including the discussion of the Company’s succession plans and guidance for full year 2021 results, and these forward-looking statements reflect management’s expectations regarding our future growth, results of operations, operational and financial performance and business prospects and opportunities. Such forward-looking statements are based on available current market material and management’s expectations, beliefs and forecasts concerning future events impacting the business. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our actual financial results, including: the impact from the COVID-19 pandemic and its related effects on our projected results of operations, financial performance or other financial metrics; loss of our customers, particularly our largest customers; decreases in our existing market share or the size of our Preferred Provider Organization networks; effects of competition; effects of pricing pressure; the inability of our customers to pay for our services; decreases in discounts from providers; the loss of our existing relationships with providers; the loss of key members of our management team; pressure to limit access to preferred provider networks; the ability to achieve the goals of our strategic plans and recognize the anticipated strategic, operational, growth and efficiency benefits when expected; our ability to identify, complete and successfully integrate acquisitions; changes in our industry; interruptions or security breaches of our information technology systems; our ability to protect proprietary applications; our inability to expand our network infrastructure; our ability to remediate any material weakness or maintain effective internal controls over financial reporting; changes in our regulatory environment, including healthcare law and regulations; the expansion of privacy and security laws; heightened enforcement activity by government agencies; our ability to pay interest and principal on our notes and other indebtedness; the possibility that we may be adversely affected by other political, economic, business, and/or competitive factors; other factors disclosed in our Securities and Exchange Commission (“SEC”) filings; and other factors beyond our control.

The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and potential effects on our business. There can be no assurance that future developments affecting our business will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by us. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date made. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

About MultiPlan

MultiPlan is committed to helping healthcare payors manage the cost of care, improve their competitiveness and inspire positive change. Leveraging sophisticated technology, data analytics and a team rich with industry experience, MultiPlan interprets clients' needs and customizes innovative solutions that combine its payment and revenue integrity, network-based and analytics-based services. MultiPlan is a trusted partner to over 700 healthcare payors in the commercial health, government and property and casualty markets. For more information, visit www.multiplan.com.

Contacts

Investor Relations

Luke Montgomery, CFA

SVP, Finance & Investor Relations

MultiPlan

866-909-7427

investor@multiplan.com

Shawna Gasik

AVP, Investor Relations

MultiPlan

866-909-7427

investor@multiplan.com

Media Relations


Pamela Walker
Senior Director, Marketing & Communication
MultiPlan
781-895-3118

press@multiplan.com

SOURCE MultiPlan Corporation